Tag: car

IN THE PAST year, flying cars have gone from LOL, to maybe a real thing, to a booming industry raking in VC cash and churning out sweet renderings of an aerial future. The chance to trigger the next great transportation revolution has drawn in big companies, like Airbus and Uber, big names, like Google’s Larry Page, and naturally, a horde of startups. They all believe the proliferation of vertical takeoff and landing (or VTOL) aircraft, which combine the best features of helicopters and planes, can make traveling throughout and between cities not just faster, but maybe cheaper and…

At least 16 people have been killed and more than 40 injured in a car bomb blast in the Somali capital, Mogadishu. The car blew up in the city’s southern Madina district, officials say. The blast – which ripped through shops and food stalls – is the first major attack in the capital since the election of President Mohamed Abdullahi Mohamed earlier this month. No group has claimed responsibility, although al-Shabab militants are likely to be the prime suspects. On Saturday a senior al-Shabab commander vowed to target the president’s…

Equated monthly installments (EMIs) on home, car, and education loans will fall by at least half a per cent with banks across the board reducing their lending rates. On Sunday, India’s largest lender, State Bank of India (SBI), fired the first salvo by reducing its marginal cost-based lending rate (MCLR) by a whopping 0.9 per cent. With this, the bank has cut its benchmark rate by nearly 200 basis points from January 2015. Each basis point is equivalent to one-hundredth of a percentage. As the deluge of deposits post demonetisation…